By selling at Rs 92, some 2.5% Rs 100 shares and investing the proceeds in 5% Rs 100 shares at Rs 115, a person increased his annual income by Rs 90. Find:
(i) the number of shares sold.
(ii) the number of shares purchased.
(iii) the new income.
(iv) the rate percent which he earns on his investment.
Solution:
Rate of dividend = 2.5% and market price = Rs 92
Let number of shares purchased = x.
Selling price of x shares = 92 x
Income from investing
